Friday, September 2, 2011

help on the way for wheeler dealers

the FED will ride to the rescue of wall street once again, with the latest program to jack stock prices:
Market expects Operation Twist in Sept | Reuters: "(Reuters) - U.S. government bond investors see Federal Reserve action to boost the flagging economy as practically a done deal after Friday's dismal jobs report.

Market participants now think the Fed will likely announce a plan to sell short-dated Treasury debt and use the proceeds to buy long bonds after its meeting later this month.

Government data showing the U.S. economy failed to create new jobs last month made the Fed's move, about which there had been much speculation over the past two weeks, seem all but inevitable.

Known to some in financial markets as "Operation Twist," the plan's goal would be to flatten the yield curve, lower long-term interest rates and stimulate the economy."
but on the back end -- or should that read, the rear end -- working-class people are going to get the shaft. we're pretty much consigned to working to pay for the benefits that flow uphill to our oligarchic masters.

every step that is supposed to stimulate the economy at heart simply transfers wealth from working people to the wealthy -- a trend that continues to accelerate during this period of "austerity" for us, and plenty for them.

watch for obama's speech next week, where he will talk about jobs. there will be no jobs, and hence there will be no help for the part of the economy that needs it -- those of us being squeezed to plump up the portfolios of the elites.

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